41.3 Million Vehicles Sold From January to July, New Energy Commercial Vehicles Penetrate 22.3%

On the afternoon of August 11, the China Association of Automobile Manufacturers released the automobile production and sales data for July. The data shows that in July, China's automobile production and sales were 2.591 million and 2.593 million units, respectively, a month-on-month decrease of 7.3% and 10.7%. From January to July, automobile production and sales reached 18.235 million and 18.269 million units, respectively, with a year-on-year increase of 12.7% and 12%.

New energy vehicles maintain a high-speed growth momentum.In July, the sales of new energy vehicles reached 1.262 million units, a year-on-year increase of 27.4%.From January to July, sales of new energy vehicles reached 8.22 million units, with a penetration rate of 47.4%.Among them, the cumulative sales of new energy commercial vehicles reached 413,000 units from January to July, a year-on-year increase of 58.1%, with a penetration rate of 22.3%.

From January to July, new energy vehicle sales approached 10 million units, with a penetration rate of 45%.

According to data released by the China Association of Automobile Manufacturers, in July, national automobile sales reached 2.593 million units, a month-on-month decrease of 10.7% and a year-on-year increase of 14.7%. Among them, new energy vehicle sales were 1.262 million units, a year-on-year increase of 27.4%, with a penetration rate of 48.7%. From January to July, the production and sales of new energy vehicles reached 8.232 million and 8.22 million units, respectively, with year-on-year growth of 39.2% and 38.5%. New energy vehicle sales accounted for 45% of the total new car sales of 18.269 million units.

It is evident that the cumulative sales of new energy vehicles in the first seven months of this year exceeded 8.22 million, approaching the 10 million mark. Based on the average growth rate of new energy vehicles this year, the cumulative sales are expected to easily surpass 10 million by August.

From the perspective of new energy vehicle (NEV) sales flow, domestic NEV sales reached 1.037 million units in July, a month-on-month decrease of 7.8% and a year-on-year increase of 16.9%. From January to July, domestic NEV sales totaled 6.913 million units, up 32.3% year-on-year. During the same period, domestic NEV sales accounted for 47.4% of total domestic automobile sales (14.588 million units, up 11.8% year-on-year).

The China Association of Automobile Manufacturers (CAAM) believes that from the perspective of the industry market environment, the effects of the trade-in policy continue to manifest, the comprehensive rectification of industry "involution" has made positive progress, and companies are continuously launching new models to help the car market operate smoothly, achieving year-on-year growth.

Commercial vehicle cumulative sales reached 1.851 million units, with new energy vehicles accounting for over 20%.

In July, the production and sales of commercial vehicles reached 298,000 units and 306,000 units respectively, with a month-on-month decrease of 15.8% and 17.1%, and a year-on-year increase of 16.3% and 14.1%. Among them, the sales of natural gas commercial vehicles were 16,000 units, down 5.8% month-on-month and 5.9% year-on-year.

The production and sales of trucks reached 254,000 and 264,000 units, respectively, representing a month-on-month decrease of 16.3% and 16.4%, and a year-on-year increase of 15.1% and 13.8%. Among them, heavy truck sales were 85,000 units, down 13.3% month-on-month but up 45.6% year-on-year; medium truck sales were 9,000 units, down 14.1% month-on-month and down 19% year-on-year; light truck sales were 138,000 units, down 17.8% month-on-month but up 3.6% year-on-year; and mini truck sales were 33,000 units, down 18.4% month-on-month but up 8.7% year-on-year.

From January to July, the production and sales of commercial vehicles reached 2.397 million and 2.428 million units, respectively, representing year-on-year growth of 6% and 3.9%. Among them, sales of natural gas commercial vehicles were 134,000 units, a year-on-year decrease of 9.6%. Specifically, sales of heavy trucks were 624,000 units, an increase of 10.9% year-on-year; sales of medium trucks were 68,000 units, a decrease of 15.6% year-on-year; sales of light trucks were 1.176 million units, an increase of 6.5% year-on-year; and sales of mini trucks were 253,000 units, a decrease of 18.2% year-on-year.

In terms of the commercial vehicle sales segment, in July, domestic sales of commercial vehicles were 230,000 units, a month-on-month decrease of 17.4% and a year-on-year increase of 16.3%; exports were 76,000 units, a year-on-year increase of 8%. From January to July, domestic sales of commercial vehicles reached 1.851 million units, a year-on-year increase of 2.1%; exports of commercial vehicles were 577,000 units, a year-on-year increase of 10.2%.

In July, domestic sales of new energy commercial vehicles reached 62,000 units, a month-on-month decrease of 12.1% and a year-on-year increase of 77.8%, with a domestic market penetration rate of 26.8%. From January to July, domestic sales of new energy commercial vehicles totaled 413,000 units, a year-on-year increase of 58.1%, with a domestic market penetration rate of 22.3%.

In addition, good news has come from the export of new energy commercial vehicles in China: from January to July, the cumulative export of new energy commercial vehicles reached 54,000 units, a threefold year-on-year increase.

As July, the first month of the second half of the year, achieved such impressive automobile production and sales results, it can be said to have welcomed a "good start." Regarding the car market in the second half of this year, the China Association of Automobile Manufacturers (CAAM) also expressed optimism: First, the economic work conference for the second half of the year clearly stated that macro policies will continue to be implemented and intensified at an appropriate time, which will effectively unleash domestic demand potential and promote continuous optimization of market competition order. Second, the funds for the third and fourth batches of ultra-long-term special national bonds supporting the replacement of old consumer goods with new ones will be allocated as planned, which will help stabilize consumer confidence, continuously boost automobile consumption, and ensure the stable operation of the industry in the second half of the year.